Research On The Impact Of Accelerated Depreciation Policy On Enterprise Innovation Performance

With the rapid development of China's economy,scientific and technological innovation has become a key factor in economic growth and improving the competitiveness of enterprises.Against this background,enterprises need to improve their innovation capabilities and accelerate product upgrading.Therefore,an important and urgent task of the Chinese government is to create a good policy environment for enterprises.In 2014,China introduced a preferential tax policy for accelerated depreciation.By adopting the accelerated depreciation policy,companies can depreciate fixed assets,which can not only reduce the tax burden on enterprises in the early stage of investment,but also increase their short-term cash flow.It can be seen that the accelerated depreciation policy can be used as an internal financing channel to improve the short-term cash flow of enterprises,mobilize enterprises to increase their enthusiasm for renovation and technological innovation,and have a positive impact on their technological innovation activities.This article systematically sorts out related literatures such as accelerated depreciation policy and innovation performance.Due to insufficient investment in technological innovation activities of market failure enterprises,based on depreciation compensation theory,endogenous growth theory and institutional economics theory,accelerated depreciation Analyze the mechanism of the impact of policies on corporate innovation performance.Then,a case study is used to analyze the effect of accelerated depreciation policy on Zongshen Power's innovation performance.Firstly,the motivation of implementing the accelerated depreciation policy was explained.Based on this,the impact of the policy on innovation performance was analyzed using the DEA model.Then,the independent sample T test was used to make a longitudinal comparison.A horizontal comparison was made,and the impact on the innovation output was analyzed from the two aspects of patents and new products.In addition,the financial index analysis method is used to analyze the financial effects brought about by the improvement of innovation performance.Finally,in view of the shortcomings in the case,suggestions are made from the two aspects of business and government.Based on the case study,the following conclusions are drawn: the accelerated depreciation policy has a positive impact on the innovation performance of the enterprise;the accelerated depreciation policy has improved the innovation efficiency of the enterprise,but it will make the resource allocation inadequate;the accelerated depreciation policy has not promoted innovative comparison High invention patents have increased significantly;due to the transformation of scientific and technological achievements and the commercialization of new products,it takes a certain amount of time,and the financial results brought about by the improvement of innovation performance have not changed significantly in the short term.Finally,based on the conclusions of the case study,this article puts forward the following suggestions from the two levels of government and enterprises:(1)create a goodenvironment for innovation support;(2)gradually strengthen preferential treatment;(3)encourage enterprises to actively apply for patents Increase the promotion of patent strategy;(4)Increase investment in R&D funds and focus on rational allocation of resources;(5)Strengthen the introduction and training of talents to ensure the quality of talents.It is hoped that by analyzing the innovation performance of the case companies,to a certain extent,it will provide more ideas for other implementers of accelerated depreciation policies.